PENALTY ON INCOME BELOW 250000

25 July 2018

If income is below taxable limit rs. 250000

or senior citizen income below rs. 3 lacs
return file after 31-07-2018 kya penalty lagegi

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5 Replies

Madhu Samb (59 Points)
Replied 25 July 2018

No penalty if total income is below rs 250000/300000/500000 for other than senior citizens, senior citizens and super senior citizens respectively

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kuldeep singh (63 Points)
Replied 25 July 2018

If income 440000 - lic 150000 net income 240000
kya penalty lage gi

Saifullah Khalid (Autodidact/Curious ) (633 Points)
Replied 25 July 2018

In this case 1000 (INR) penalty will attract ...

Madhu Samb (59 Points)
Replied 25 July 2018

Yes, penalty of RS 1000. Please note that it is total income and not taxable income (without considering exempt income and chapter VI deduction).

prasad Nilugal ( GST Practitioner & Accounts ) (14863 Points)
Replied 01 August 2018

What is your profession ? . Exact name of profession is required .

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